Industry Voices
 
Hon’ble Prime Minister Shri Narendra Modi has carried out a carefully strategized ministerial reshuffle, aimed at imparting fresh impetus to India’s development process. The elevation of new Cabinet ministers and induction of new ministers with independent charge in crucial infrastructure sectors is designed towards implementation and achievement of key targets. Overall, the direction of the reshuffle inspires confidence that the path of reforms, ease of doing business and timely implementation will continue to be top priority. This is vital at time when the GDP growth has been flagging. 
Ms Shobana KamineniPresident, CII

The Prime Minister has outlined a vision of a secure, prosperous and capable nation by 2022, driven by the collective power of 125 crore citizens of India. CII's India@75 campaign launched in 2008 is in line with Prime Minister's objectives and emphasizes crowd-sourcing of ideas and spread of volunteerism to build a developed India. Indian industry pledges to continue our partnership for a New India as we complete 75 years as a free nation.   The Government has taken multiple steps to address corruption and black money which are delivering notable results. CII believes that reforms such as GST and ease of doing business will further contribute to formalisation of the economy and widening the tax net, and we look forward to a more transparent and efficient economy by 2022. 
Ms Shobana KamineniPresident CII 2017-18

We have emerged today into a new era of economic reform – with the introduction of the game-changing GST. This will stand as an exemplar of collaborative reform for the world on an unprecedented scale.  The Finance Minister and other members of the GST Council brought together all stakeholders for implementing this transformational new policy, and CII lauds their spirit of cooperation.  GST imparts significant competitiveness to Indian industry, thereby boosting the inherent potential of the economy to raise incomes, add to the formal economy and incentivise exports . GST also helps expand the tax net. Above all, it gives us tremendous confidence that the Government will continue to facilitate investments and simplify the business environment. CII and Indian industry is committed to ensuring the success of GST for boosting India's growth and development.
Shobana KamineniPresident CII, 2017-18

With tremendous opportunities available in the Indian economy, further strengthening of the growth process and job creation is on the horizon. One of the key priorities for CII this year would be to help revive domestic investment, which has been flagging and the economy has been growing largely on the back of exceptionally high government spending on infrastructure, etc. Industry is completely ready for the introduction of the landmark tax reform from July 1, 2017. CII has been calling for a single national tax for the last ten years and we will try to make its implementation as smooth as possible. 
Shobana KamineniPresident CII 2017-18

India and Africa are the “most dynamic geographies” of the world. CII is deeply committed toward establishing and reinforcing long-term India-Africa partnerships in diverse sectors. CII has an office in Cairo and will be setting up its second office in Africa in Johannesburg.
Dr Naushad ForbesPresident CII, 2016-17

Services have emerged as an engine of growth for the Indian economy as it contributed two-thirds of our GVA, half of our employment and a fifth of our exports. The three priority areas viz tourism, healthcare and education has the potential to grow manifolds and are important for promoting inclusive growth in the country.
Dr Naushad ForbesPresident CII, 2016-17

Indian industry’s R&D spend has been around 0.3% of GDP as against global average of 1.5% of GDP. CII has been working to stimulate industry’s investment through multiple ways. CII is also instrumental in attracting industry’s R&D investment through its unique PPP Joint Venture Company, Global Innovation & Technology Alliance (GITA) that has been showing success with DST, MeitY, DHI as the partners. CII looks forward to work across different ministries to encourage this.
Dr Naushad ForbesPresident CII, 2016-17

The impact of demonetisation is showing to be transient and we are likely to reach higher growth levels in the coming quarters. Most large businesses have made efforts to integrate their supply chains into cashless payment systems and this will soon yield benefits in terms of higher efficiency and productivity of the economy. The economy is on a positive trajectory. With some help from the external environment, the economy is likely to see higher growth in FY2018. 
Dr Naushad ForbesPresident, CII, 2016-17

The Finance Minister is to be complimented for delivering a prudent and pragmatic Budget that caters to most sectors of the economy. Industry welcomes the cut in personal and corporate income tax rates.The economic reform agenda continues at a rapid pace, with abolishing of FIPB and move for time-bound listing of CPSEs. The Budget focuses on measures to increase transparency with a broad strategy to put in place the mechanisms and institutions for the future of the country, including through digitalization and formalization of the economy.  Adherence to the fiscal prudence imperatives will lay the foundation for long term growth and CII appreciates this commitment.  The significant increase in infrastructure investments by 16 per cent to Rs 3.96 lakh crores would create demand for upstream and downstream sectors. It would also generate new employment opportunities, especially through high spending in transport infrastructure pegged at Rs 2.4 lakh crores. The high importance to credit for farmers and micro-irrigation through a dedicated fund as well emphasis on rural economy will unlock demand in the villages, adding to overall private consumption levels.  We would have liked to see lower corporate income tax for all companies, given that large companies contribute significantly to investments and employment. And the additional surcharge on high-income tax payers detracts from the principle of honouring honest tax payers. 
Dr Naushad ForbesPresident CII 2016-17

The budget should be judged on how it enhances the long term potential of the economy. We must drive the structural reforms needed for double digit growth for a generation, so as to include many more millions in our progress. 
Dr Naushad ForbesPresident CII 2016-17

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